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now, how do you address the debt and deficit? the most powerful tool to do it -- no, even more powerful than entitlements is economic gth sichl growth. >> the economy is boomk but we haven't done anything to pay for the tax cuts. >> that's not accurate. the most powerful tool to pay down the debt and deficit is for the economy to be booming.k if you l at -- >> but we have to control spending. >> i agree with that, but tween the two economic growth is more important than controlling spending. i want to doth. now, the problem is congress is ng even more. we are not restraining on the spending. >> you have been re-elected as n u.s.or. you have a new lease on life. you have six years before, you know, donald trump is going to be out of office. f you could r president again. this could just be a way to reestablh yourself and reestablish the party around a principle that he stood for. a klim clip on this program in9 than the orange conservative goldwater. >> let's talk about the difference and emphasis among conservatives 25 years ago
now, how do you address the debt and deficit? the most powerful tool to do it -- no, even more powerful than entitlements is economic gth sichl growth. >> the economy is boomk but we haven't done anything to pay for the tax cuts. >> that's not accurate. the most powerful tool to pay down the debt and deficit is for the economy to be booming.k if you l at -- >> but we have to control spending. >> i agree with that, but tween the two economic growth is more important than...
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Jul 20, 2019
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stopped caring about debt a deficits? >> no, not remotely. i will say the way i'm different today. there is a reason it's different because it's different circumstances. so the first four y was in the senate barack obama was president, and he was pushing really bad policies that were ntrting this country. mye job changed january of 17 because we had a republican president. we had republican majorities in bothouses. i pulled my team together and said our job is totally different. now our job is to deliver on our promises. and i think i'm in an unusualf not unique position of being able to speak with real credible to conservatives, but also being able to speak to moderates, to leadership, to the president, to the,administratind get everyone to, yes, corral folks. you take something like the tax cut. i spent thousands of hours trying to get 50 republicans in the senate to yes. and that tax cut has produced incredible results in the economy. millions of people have jobs today because we cut taxes on working families on small
stopped caring about debt a deficits? >> no, not remotely. i will say the way i'm different today. there is a reason it's different because it's different circumstances. so the first four y was in the senate barack obama was president, and he was pushing really bad policies that were ntrting this country. mye job changed january of 17 because we had a republican president. we had republican majorities in bothouses. i pulled my team together and said our job is totally different. now our...
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Mar 7, 2019
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trade deficit keeps growing. in fact, it rose by 12%, compared to 2017, and the trade gap is now the widest it's been since 2008. david wessel of the brookings institution back with us, to help unpack what's behind it,la and ther picture. davidwessel, welcome back to ths hour. help us understand, how did this g mber get so high? what's contribut it? >> basically, president trump's tariffs didn't help,ut the major story is our economy is stronger than some of the other our demand for their stuff is growing faster than their demand for our st tf. and e trade deficit, which is the difference between our imports and our exorts, is widening. >> nawaz: so the president has repeatedly talked and called it unfair. he said he was going to use those tariffs you just mentioned to try to close the g. we see it's gone the other way right now, but the studies you've seen so far shown a bit of what the effects of those tariffs have bee what do we know about that? >> right. well, first of all, thees president deseome of the blam
trade deficit keeps growing. in fact, it rose by 12%, compared to 2017, and the trade gap is now the widest it's been since 2008. david wessel of the brookings institution back with us, to help unpack what's behind it,la and ther picture. davidwessel, welcome back to ths hour. help us understand, how did this g mber get so high? what's contribut it? >> basically, president trump's tariffs didn't help,ut the major story is our economy is stronger than some of the other our demand for their...
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Oct 8, 2013
10/13
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is shrinking. >> the deficit is shrinking temporarily. the debt is as a share of gdp is down. but the absolute size of the debt as opposed to the deficit, the total amount that the government owes is not shrinking. it's growing. but the key thing-- . >> rose: what percentage of gdp is about now. >> about 73%. >> rose: what do you think about all of this. >> i think austan is right that the deficit is coming down, for three reasons. one is the economy is recovering. the second is there was a bunch of temporary things that were done, the stimulus bill, for example. that on purpose were designed to fade as the economy started to recover. and then finally and most importantly, health-care costs have decelerated dramatically. the congressional budget office has taken medicare and medicaid costs for the next decade and marked them down by $1.2 trillion because health-care costs are growing so slowly and they expect that to continue. that is by far the most important thing that we could invest in in order to maintain a sustainable or to get back
is shrinking. >> the deficit is shrinking temporarily. the debt is as a share of gdp is down. but the absolute size of the debt as opposed to the deficit, the total amount that the government owes is not shrinking. it's growing. but the key thing-- . >> rose: what percentage of gdp is about now. >> about 73%. >> rose: what do you think about all of this. >> i think austan is right that the deficit is coming down, for three reasons. one is the economy is recovering....
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Feb 19, 2012
02/12
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so this is a budget in which we'll add immensely to the budget deficit and to our overall deficit. and this is not necessarily going to do anything about the economy. it may save it from going down more, but it's not the way to solve the problems we have. we're not dealing with any of the major issues at this economy. >> let's reduce some numbers here. the public debt now is $15.4 trillion. >> that's right. >> that's our debt. >> that's right. >> we're carrying that debt and paying interest held by the chinese. >> that's right. >> what is the interest we're paying them? >> total just -- it's got to be -- >> over a billion dollars of -- trillion dollars of the debt themselves in their own 3.2 trillion reserve. >> what do you think the doctor is with paying to the chinese on their carrying -- good portion of our debt? >> i guess the united states is paying the chinese between 40 and $50 billion a year on that debt. they probably got it at 4 or 5%. >> we've been paying the chinese interest for long before barack obama took office. >> but not -- >> this is a budget that -- >> but not n
so this is a budget in which we'll add immensely to the budget deficit and to our overall deficit. and this is not necessarily going to do anything about the economy. it may save it from going down more, but it's not the way to solve the problems we have. we're not dealing with any of the major issues at this economy. >> let's reduce some numbers here. the public debt now is $15.4 trillion. >> that's right. >> that's our debt. >> that's right. >> we're carrying...
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Aug 3, 2011
08/11
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the difference between the two is the deficit, and the problem is the deficit, not spending. i think that's part of what, as i said before, needs to become broadly understood by the american public. >> rose: if you were today theps issue that he had facing the debt limitation today, the debt ceiling issue, would you be arguing that he ought not to focus on the deficit for the next several years, he toot focus on getting the economy growing -- he ought to focus on getting the economy growing again? >> you're making a distinction i don't think exists. >> rose: okay.i don't think we a healthy economic recovery unless we get our fiscal house in order. >> rose: fcal house in orderande same time? >> absolutely, because i think if we get our fiscal house in order and put in place a serious fiscal program, that will engender confidence, exactly what happened in '93, and build confidence and reduce uncertainty, and increase confidence in our political system. i would defer the effective date for a couple of years so we don't hav a negative demand effect in the next coue of years in th
the difference between the two is the deficit, and the problem is the deficit, not spending. i think that's part of what, as i said before, needs to become broadly understood by the american public. >> rose: if you were today theps issue that he had facing the debt limitation today, the debt ceiling issue, would you be arguing that he ought not to focus on the deficit for the next several years, he toot focus on getting the economy growing -- he ought to focus on getting the economy...
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Sep 19, 2011
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to ask those who have done extraordinarily well, to help america close the deficit. then the logic and the math says that everyone else has to do more. we have to put the entire burden on the middle class and the poor. that's unacceptable to me, and to the american people, and won't happen on my watch. >> the president called for 1.5 trillion in new taxes. and including a millionaire tax for those earning more than million. and one group calling themselves patriotic millionaires that want to pay more taxes. >> i have the use of more deduction asks credit than people that have less. and i have more so -- we pay less and we should pay our share. >> president obama wants to be reelected in over a year's time. by coming out so strongly in favor of taxing the wealth. the president is hoping to reenergize patriots. >> and those democrats and with the slogan, the 2012 campaign is well under way. >> tax warfare will divide this country more and doesn't grow the economy. >> they are gambling that people want cuts and not the taxes. president obama intends to, and now he must
to ask those who have done extraordinarily well, to help america close the deficit. then the logic and the math says that everyone else has to do more. we have to put the entire burden on the middle class and the poor. that's unacceptable to me, and to the american people, and won't happen on my watch. >> the president called for 1.5 trillion in new taxes. and including a millionaire tax for those earning more than million. and one group calling themselves patriotic millionaires that want...
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Sep 19, 2011
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other european leaders insist greece must do more to reduce its deficit. this was the message the imf give him today. >> the ball is in the greek court. implementation is of the essence. >> yes, there have already been tax rises and pay cut, but have not done the job. the numbers in the public sector remain high. tax collection is in shambles, and the economy is shrinking. some more cuts are on the way, but this time, increasingly, the greeks are resisting. >> the athens fair drew many middle-class families. among them was that this public sector worker. already, she has seen her salary cut by 20%. she says she is scared. " we're very careful of what we are by the now. every time we go to the supermarket, we are very careful. we go with a list. it is becoming a shorter list. we cannot buy anything for our children anymore. >> when school started this autumn, this family found a shortage of books in the classroom. just a week ago, the government announced a property tax. the aim, to raise two billion euros. >> for the scale the government has given for this
other european leaders insist greece must do more to reduce its deficit. this was the message the imf give him today. >> the ball is in the greek court. implementation is of the essence. >> yes, there have already been tax rises and pay cut, but have not done the job. the numbers in the public sector remain high. tax collection is in shambles, and the economy is shrinking. some more cuts are on the way, but this time, increasingly, the greeks are resisting. >> the athens fair...
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Feb 18, 2012
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he's not a deficit hawk. gwen: while in washington, congress grudgingly extends the payroll tax holiday. >> the only reason we're even talking about a payroll tax break or an extension of unemployment benefits is because of the president's economic policies have failed. >> this is make or break moment for the middle class in america. and for folks who want to be in the middle class. gwen: as republicans reject the president's budget blueprint, out of hand. >> dead on arrival. it's debt on arrival. gwen: and iran resurfaces as a nuclear flashpoint. we take you to the strait of hormuz. covering the week, karen tumulty of "the washington post." susan of "usa today." -- susan of "usa today." jackie calmes of "the new york times" and martha raddatz of abc news. >> award-winning reporting and analysis, covering history as it happens. live from our nation's capital, this is "washington week with gwen ifill." produced in association with "national journal." corporate funding for "washington week" is provided by -- >>
he's not a deficit hawk. gwen: while in washington, congress grudgingly extends the payroll tax holiday. >> the only reason we're even talking about a payroll tax break or an extension of unemployment benefits is because of the president's economic policies have failed. >> this is make or break moment for the middle class in america. and for folks who want to be in the middle class. gwen: as republicans reject the president's budget blueprint, out of hand. >> dead on arrival....
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Dec 12, 2013
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financial deficit is only one of them and probably not the most serious. the second part of it is just simple arithmetic, charlie. whether you believe in keynesian stuff about demand and stimulus or all of that. i don't know of any economics class where they don't tell you that if you can borrow money at 2.5% or 3% or 1%, to invest in something that will pay at a rate of 5% or 8% or 10% that that's not a good thing to do. and i look at our country right now and we can borrow money, if we borrow short at 0%, if we borrow long at less than 3% and it defies belief that we don't have projects to have a payoff return that's much greater than 3%. so that's the second thing that leads me to emphasize growth and the third thing is the simple knowledge that the most important determinant of what economists call debt dynamics, how debt moves relative to income, is going to be how fast the economy grows. and that if we can accelerate our growth rate by only.2%, that will be enough to eliminate what people -- what the congressional budget office estimates is the fisca
financial deficit is only one of them and probably not the most serious. the second part of it is just simple arithmetic, charlie. whether you believe in keynesian stuff about demand and stimulus or all of that. i don't know of any economics class where they don't tell you that if you can borrow money at 2.5% or 3% or 1%, to invest in something that will pay at a rate of 5% or 8% or 10% that that's not a good thing to do. and i look at our country right now and we can borrow money, if we borrow...
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Jan 30, 2011
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he punted when he should address the serious problems of the deficit. >> mark, did the present rise to the occasion? >> politically, it works. the themes were pitched a perfect fit capturing the future, which every political leader wants to do and has to do. americans expect optimism from their leaders. there is no question she did that. -- he did that. but where's the beef is a pretty legitimate question. >> the president was talking about winning the future. >> we are poised for progress. two years after the worst recession most of us have ever known, the stock market has come roaring back, corporate profits are up, the economy is growing again. >> stimulus or repackaged as investment, their actions it showed they want a federal government that controls to much, taxes too much, and spends too much in order to do too much. during the last two years, that is exactly what we have gotten, along with record deficits and debt. >> take your pick, mark. the glass is half-empty, half full. >> there are two kinds of conservative spirit there is the five minutes to midnight conservatives, thing
he punted when he should address the serious problems of the deficit. >> mark, did the present rise to the occasion? >> politically, it works. the themes were pitched a perfect fit capturing the future, which every political leader wants to do and has to do. americans expect optimism from their leaders. there is no question she did that. -- he did that. but where's the beef is a pretty legitimate question. >> the president was talking about winning the future. >> we are...
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Sep 4, 2010
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there is concerns about the -- concerns about the deficit are clouding this. a payroll tax cut would cost a lot of money. and you have mixed in concern about what to do about the bush tax cuts and how there is the ability to allow tax cuts to expire for one group, but not another. why are some good and others bad. >> why is that? what is happening on the bush tax cuts? is it being shifted? is there a middle road? >> there are three camps, there is the camp that says you should extend them for everybody including the rich and republicans fall into that and some democrats, too. there is $35 billion that these tax cuts would bring back in revenue if they were allowed to expire. they say if you take it out of their pockets, you are taking the stimulus out of the economy. those are saying, extend it to the middle class and some are saying don't extend it for anybody. so you don't have agreement in tra-party. >> the administration has said they aren't going for another stimulus package but aren't they disguised as stimulus and run the deficit up higher? >> some say
there is concerns about the -- concerns about the deficit are clouding this. a payroll tax cut would cost a lot of money. and you have mixed in concern about what to do about the bush tax cuts and how there is the ability to allow tax cuts to expire for one group, but not another. why are some good and others bad. >> why is that? what is happening on the bush tax cuts? is it being shifted? is there a middle road? >> there are three camps, there is the camp that says you should...
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Oct 10, 2010
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it will be exposed as a big lie because they aren't going to cut the deficit anymore than the democrats. >> what are the democrats going to run on? >> the rich in trouble is the war budget and the defense budget. that's where you'll get a coalition of people that say stop the spending for these two wars. do we need all these? >> you think gates is experiencing that enlightenment? he wants to cut the size of the military. >> the commander in europe says we have too many bases over here. >>> exit question, after november will there be a friendly merger between the incoming gop freshman, he thinks it's going to be hysteria. or will it be a hostile takeover? pat buchanan. >> there's going to be a friendly civil war inside the republican caucus. >> i don't know how you can have a friendly civil war. i call it a -- i think it will be a shotgun marriage. i will add that the antiwar party that pat was just talking about is not going to be enough to cut off funding for either war. >> defense budget has grown a lot slower and less relative to social spending in the united states, but to answer yo
it will be exposed as a big lie because they aren't going to cut the deficit anymore than the democrats. >> what are the democrats going to run on? >> the rich in trouble is the war budget and the defense budget. that's where you'll get a coalition of people that say stop the spending for these two wars. do we need all these? >> you think gates is experiencing that enlightenment? he wants to cut the size of the military. >> the commander in europe says we have too many...
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Aug 11, 2011
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i think the action of something as basic as raising the debt ceiling to a deficit reduction plan, that just puts the u.s. government and a very difficult position. i think it unnerved american citizens. the important thing, going on from here, all is not lost. i think that policymakers can get back to negotiating, and i definitely hope when congress comes back in september that people focus 24/7 on how to deal with the big problems we have, which are jobs and the long run deficit. i will continue to hope that they rise to the occasion and do what needs to be done. >> the chancellor and the u.k. warned this is the most dangerous time facing the global economy since 2008. is he right? >> we certainly are in a precarious position. i think much more so in europe, the issues around what is happening with the various sovereign debt crises. it is very real and it is a potentially large shock, not just to the european economies but the world economy. i think we are in a precarious position, and what will matter is to the policy makers take the steps that need to be taken to make sure the reall
i think the action of something as basic as raising the debt ceiling to a deficit reduction plan, that just puts the u.s. government and a very difficult position. i think it unnerved american citizens. the important thing, going on from here, all is not lost. i think that policymakers can get back to negotiating, and i definitely hope when congress comes back in september that people focus 24/7 on how to deal with the big problems we have, which are jobs and the long run deficit. i will...
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Nov 10, 2011
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and it would demonstrate a clear lack of seriousness about the deficit. if you undo the sequester, automatically, according to the accounting, the u.s. deficit will jump by $2 trillion. $1.2 trillion. that would be a huge mistake. so people who are talking about undoing the sequester are not serious about taking on the deficit. >> reporter: congressman chris van hollen, thank you for your time. >> susie: we asked our facebook friends if they were managing their investments differently because of the recent volatility in the markets. tom, let's share some of the responses. alex says he's investing mostly defensively with an eye on value plays and special situation stocks. >> tom: david says, "i am being much more careful in investments, picking companies for long-term buy-and-hold only if i believe the company could survive a great depression." >> susie: frank writes, "i'm just riding out the volatility. selling on the high days and moving to cash." we saw a lot of people going into cash today and one statistic that stands out for river stock on the big bo
and it would demonstrate a clear lack of seriousness about the deficit. if you undo the sequester, automatically, according to the accounting, the u.s. deficit will jump by $2 trillion. $1.2 trillion. that would be a huge mistake. so people who are talking about undoing the sequester are not serious about taking on the deficit. >> reporter: congressman chris van hollen, thank you for your time. >> susie: we asked our facebook friends if they were managing their investments...
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Feb 19, 2011
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it accrues all of our annual deficits. when you add those all up, it totals over $14 trillion and increasing at billion a day! question, why do president obama pass up the opportunity to give congress a budget that includes meaningful deficit reduction? >> because it runs counter to the -- to the -- stimulus spending and tax reductions that obama has already gotten into legislation. when you say meaningful, that of course is a relative adjective. i think that the long-term problem that we have is not with discretionary spending but social security, medicaid and the administration isn't ready to tackle that right now. i wish they it, but they're not. >> everybody in the boat together at the same time. >> at this point, yes. you got to do it. >> playing politics. >> he's playing politics. >> sure. >> don't we all? >> haven't we all! with these -- >> you got a fiscal and financial crisis of a high order, john. everybody knows it in the country. deficit. >> you want him to approach social security -- >> i would like him to lea
it accrues all of our annual deficits. when you add those all up, it totals over $14 trillion and increasing at billion a day! question, why do president obama pass up the opportunity to give congress a budget that includes meaningful deficit reduction? >> because it runs counter to the -- to the -- stimulus spending and tax reductions that obama has already gotten into legislation. when you say meaningful, that of course is a relative adjective. i think that the long-term problem that we...
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Oct 19, 2018
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what's driving the 2018 deficit? >> if you look deep into the numbs the treasury department put out you find interesting things. in this year, talking about tacks, you see actual tax revenue stayed about flat, it rose about ha percent, a little bit less. but spending is what has changed most dramatically. so you have fl revenueand more spending, not much coming in, a lot going out, you get at. defi what were the bigger increases? defense spending, $6 billion increase in the past year, and look at the interest on the debt. we saw an increase of $62 billion in what we're spending to off this debt. cedefense is the only pl we saw an increase, but congress spent more and we have ag larer deficit. >> lisa says the revenues arein reg flat. so what does that tell us about the effect of president trump's nox cuts? >> well, the eco, as lisa ,aid, is very strong, so, without a tax c we would have seen increasing revenues. we also see, if you look at the numbers, corporate tax receipts fell 30%, and that's largely the result of
what's driving the 2018 deficit? >> if you look deep into the numbs the treasury department put out you find interesting things. in this year, talking about tacks, you see actual tax revenue stayed about flat, it rose about ha percent, a little bit less. but spending is what has changed most dramatically. so you have fl revenueand more spending, not much coming in, a lot going out, you get at. defi what were the bigger increases? defense spending, $6 billion increase in the past year, and...
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Sep 28, 2013
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the deficit. it's about whether you pay the bills you've already run up and once you hit the debt ceiling, things like social security checks would cease to go out and our credors around the world, there's a -- creditors around the world, there's a real chance of a global meltdown. >> here's the thing about public opinion on this. public opinion is on the first one, don't shut the government down but if you look at the polls on the debt ceiling, people believe it should actually be tied to some kind of budget compromise because the feeling naturally is if you can't pay your credit card you have to figure out a way to tighten your belt and even the president today in making comments about this said remember the good old days two years ago when we had that fight over the debt ceiling? at least then he said we were talking about reducing the deficit. he said now this isn't about reducing the deficit, although republicans think obowl care will add to the deficit. he said this is about an agenda that y
the deficit. it's about whether you pay the bills you've already run up and once you hit the debt ceiling, things like social security checks would cease to go out and our credors around the world, there's a -- creditors around the world, there's a real chance of a global meltdown. >> here's the thing about public opinion on this. public opinion is on the first one, don't shut the government down but if you look at the polls on the debt ceiling, people believe it should actually be tied...
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Jan 21, 2013
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it is the congress decides how big the deficit will be but the president has to work with congress. we need more revenue and we need to drive down spending. i think the president understands that and he is working on this but he cannot do this alone. >> looking forward to the next four years, do you see an america that is retreating? >> i see an american -- an america that is moving to asia. the america they are focusing on asia but have not forgotten about europe and our new allies, and this is an america that is still concerned about issues in the middle east and other parts of the world. but america cannot do everything for everybody. if you think america will become isolationist, that will not happen. >> the world has such high expectations for this president. his single biggest problem was said to be high expectations. >> does any politician ever meet all of the campaign expectations. you come in with an agenda and you do the best that you can. you will succeed on some issues and you will not succeed and there will be a tie on some issues. and the president understands with the
it is the congress decides how big the deficit will be but the president has to work with congress. we need more revenue and we need to drive down spending. i think the president understands that and he is working on this but he cannot do this alone. >> looking forward to the next four years, do you see an america that is retreating? >> i see an american -- an america that is moving to asia. the america they are focusing on asia but have not forgotten about europe and our new...
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Oct 18, 2018
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look, i think the politics will change when people think the deficit is hurting them. one reason in the past congress has had to deisl with t is because interest rates have gone up a lot. so if the fed keeps raising interest rates, if mortgage rates go up, if the fed chair does, as alan greenspan used to, lecture congress it's your faul cause you're not dealing with the deficit, that could change , ings. the second thing could, i don't see it on the horizon, have some kind of leadership where some president would say, look, this isn't a problem today, it's a problem for your kids, i want to do something about it and would be able to sell the amerin people on a little belt tightening now for a better future. >> what are the chances. e have a presidential election coming up and so far no democrats are running on the deficit. president trump occasionally talks about it bu made to indication he's interested in changing it. so hard political choices and we have leadership questions for many issues, maybe toward the ttom of that very difficult stack. >> lisa desjardins, d we
look, i think the politics will change when people think the deficit is hurting them. one reason in the past congress has had to deisl with t is because interest rates have gone up a lot. so if the fed keeps raising interest rates, if mortgage rates go up, if the fed chair does, as alan greenspan used to, lecture congress it's your faul cause you're not dealing with the deficit, that could change , ings. the second thing could, i don't see it on the horizon, have some kind of leadership where...
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Mar 23, 2013
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because the bases shall -- of both parties are opposed to the essential elements, entitlement reform and deficit reduction. >> but the difference between this grand bargine and the one two summers ago would be that you're in a world where the deficit might naturally be declining as well the would that make any difference? >> the problem is i don't think you can -- you still have to have revenue for this to be acceptable. ches -- i think it's clear that there won't be increased rates. that's not going to happen. so can this happen? can they tackle tax reform? >> you are also saying medicare costs are beginning to level off. they don't know why, but it's happening. for the first time in years, the democratic senate is actually considering a budget and that means there is possibly a good chance there is going to be a conference committee between the republican house and the democratic senate on the budget that could provide another opening of a bit of a window to again put some of the bigger ideas on the table the gwen: it's also possible that the sequestration, the word i hate to use, but the acro
because the bases shall -- of both parties are opposed to the essential elements, entitlement reform and deficit reduction. >> but the difference between this grand bargine and the one two summers ago would be that you're in a world where the deficit might naturally be declining as well the would that make any difference? >> the problem is i don't think you can -- you still have to have revenue for this to be acceptable. ches -- i think it's clear that there won't be increased...
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Jan 30, 2015
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it's repressing a deficit. and it's just as much a burden on our children as borrowing money. >> get to these points. what's the consequence of not doing something about income inequality. >> if you look at the public opinion polls charlie you find that confidence in almost every institution has gone way down. >> sure. >> and i think that at its root that is because most people see that their incomes arbts going up very fast if at all. that they don't have confidence that their children are going to live better lives than they did. and that they are able to see that a very small group seems to be getting a very large fraction of the economic growth. >> rose: which breeds a sense of unfairness which therefore creates social tension. >> resentiment, unfairness lack of confidence in institutions. and i think we get caught in a cycle that's really very-- really very problematic. which is people lose confidence in government and business. because they lose confidence in government and business, they make it much har
it's repressing a deficit. and it's just as much a burden on our children as borrowing money. >> get to these points. what's the consequence of not doing something about income inequality. >> if you look at the public opinion polls charlie you find that confidence in almost every institution has gone way down. >> sure. >> and i think that at its root that is because most people see that their incomes arbts going up very fast if at all. that they don't have confidence...
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Mar 9, 2019
03/19
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meanwhile, the president, who's railed against trade deficits for years, saw this week the trade deficit surge to an historic high, more than $891 billion, according to the commerce department. the president also facing disappointing jobs numbers on friday, trade deficit amid a trade war. when you're on capitol hl, es that cause republicans to maybe get a little more uneasy about this white house? there are already tensions about a national emergency declaration, now new economic numbers. shawna: republicre nervous about this white house anyway and what 2020 will mean for them but i also think the problem for republicans and you can talk about thes more but tax bill is all wrapped up in this, as well. is that they want toun on trump's economic numbers and it has been a good refrain for him for the most part for the two years that he has builts whatevering on with the economy that's doing well, he's continued it and that's great.if he president does that have to run on and the republicans behind him do not havo that t run on, then all he really has to run on is running against, really, je
meanwhile, the president, who's railed against trade deficits for years, saw this week the trade deficit surge to an historic high, more than $891 billion, according to the commerce department. the president also facing disappointing jobs numbers on friday, trade deficit amid a trade war. when you're on capitol hl, es that cause republicans to maybe get a little more uneasy about this white house? there are already tensions about a national emergency declaration, now new economic numbers....
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Feb 17, 2013
02/13
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mort, what was our trade deficit with europe all year? over $100 billion. last year john we had the largest trade deficit in world history between two nationsing, $315 billion with klein. the united states has been getting its clock cleaned for the last 25 years. where do you think all our factories and jobs have gone? they have gone overseas. >> this is the counter weight to china. that is why it is going to work. >> mort, hold on, tim. mort has some inside wisdom on this. he predicted it. go ahead. >> i think you will have a much larger market. you can have your manufacturing base that will be completely expanded cost per unit will go down, we'll be much more competitive vis a vis countries like china, >>> predictions pat? >> that $9 minimum wage is dead john. it will go nowhere because the national federation of independent businesses has come out hard against it. >> do you think the states ought to fix that minimum wage? >> i think states ought to set the minimum wage yeah. >> eleanor. >> it may be dead this congress but there is another congress pat. >
mort, what was our trade deficit with europe all year? over $100 billion. last year john we had the largest trade deficit in world history between two nationsing, $315 billion with klein. the united states has been getting its clock cleaned for the last 25 years. where do you think all our factories and jobs have gone? they have gone overseas. >> this is the counter weight to china. that is why it is going to work. >> mort, hold on, tim. mort has some inside wisdom on this. he...
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Mar 8, 2019
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when our budget deficit gets bigger, that tends to widen the trade deficit. what the president sometimes talks abt is thasomehow china is paying these tariffs, but the recent studies tohich you refer are trying to figure out, when you have these tarit?s, who gets hur is it the exporting country or the u.s. consumers and businesses who are buying the stuff, and their bottom line is most of the burden is falling n us, the consumers and businesses of the united states. f we're payir for imported stuff because of the tariffs. >> nawaz: so te burden is falling to us, but i'm also hearing you say we're consuming more than we produce. that suggests we have the cash and the ability to be abe to do so. so what is the trade deficit say orabout the overall healt strength of our economy? >> well, you know, sometimes i think the trade deficit is overemphasized as a measure of the economy's health. it does mean, as you say, tha we're consuming more than we produce. we're lucky enough to be able tt t. it also means that we invest more than we save.ow we're bog a lot of the
when our budget deficit gets bigger, that tends to widen the trade deficit. what the president sometimes talks abt is thasomehow china is paying these tariffs, but the recent studies tohich you refer are trying to figure out, when you have these tarit?s, who gets hur is it the exporting country or the u.s. consumers and businesses who are buying the stuff, and their bottom line is most of the burden is falling n us, the consumers and businesses of the united states. f we're payir for imported...
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Oct 31, 2011
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look at the fact that i have dropped the deficit by 6% in 1 year. no other european country, no otheremocracy to the best of my knowledge has achieved this. i have dropped the primary deficit which was huge in greece from 24 billion euros to only $2 billion in only twyears. that's because i cut salaries, i cut pensions. there were many tough, unfair i would even say, measures that were taken. but also, a number of deep structural changes that greece need ford decades and we knew it. and the greek people demanded them. they didn't want inefficient public sectors that didn't work. they didt want the most expensive health-care system at wasn't delivering what it should. so this changes when you ply them, hurt people. they hurt doctors, they hurt lawyers, they hurt others. so they are not popul. but the fact is that we all understand we have to make them and now europe understands that as we're cutting we also need to grow. and these measures give us the chance, the breathing space to see both the coetitive advantages of greece floish through the struct
look at the fact that i have dropped the deficit by 6% in 1 year. no other european country, no otheremocracy to the best of my knowledge has achieved this. i have dropped the primary deficit which was huge in greece from 24 billion euros to only $2 billion in only twyears. that's because i cut salaries, i cut pensions. there were many tough, unfair i would even say, measures that were taken. but also, a number of deep structural changes that greece need ford decades and we knew it. and the...
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Jan 13, 2013
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he's a liberal deficit hawk. he's got very strong views on the safety net and funding of government but he really does believe in doing what can be done to reduce deficits ?ee.'s coming at that time beginning of president obama's second term. second terms are rough. they eventually lead into lake duckery. people jump ship who are working for him. sew needs a strong group to handle the deficiencies that are inherent in a second term. you understand me? >> i understand. i think that's right. >> now, is lew the guy that can do this for him? can he protect him and keep him alive in the sense of politically alive, of course, and keep him vibrant as president? >> look, up to a degree, he can do that. but ultimately still most of the major policy is at the desk of the president. when he said that he was the man who was responsible for three surpluses under bill clinton, let me tell you, bill clinton had three different programs to reduce the budget deficit and bring about that. so it was a presidential decision. it's no
he's a liberal deficit hawk. he's got very strong views on the safety net and funding of government but he really does believe in doing what can be done to reduce deficits ?ee.'s coming at that time beginning of president obama's second term. second terms are rough. they eventually lead into lake duckery. people jump ship who are working for him. sew needs a strong group to handle the deficiencies that are inherent in a second term. you understand me? >> i understand. i think that's...
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Feb 3, 2013
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as pat was saying. $25 billion a week in terms of deficit spending trying to boost up the economy. secondly, $85 billion a month, coming out of the federal reserve, the loosest monetary policy we have ever had. we can barely get the economy to grow. it was 2.4% last year, then 1.8%, if that, maybe even less this year. despite all the stimulus. so the economy is continuing slow, it is not even staying flat. >> so you are saying we are in for several quarters of low growth? >> we hope it is going to be several quarters of low growth. anything can happen in an economy this fragile that can turn it into a recession i don't that would be a double dip recession. >> that's right. it would be. >> is that your prediction? >> no i don't know. >> i know you don't know. where do you think the odds are? >> i think the economy is going to stay very weak and any single event the collapse of the spanish banking system or what have you, any single event will create such a lack of confidence in the economy you'll have a big cut back. >> in what the federal review is saying in view of 2011, should i
as pat was saying. $25 billion a week in terms of deficit spending trying to boost up the economy. secondly, $85 billion a month, coming out of the federal reserve, the loosest monetary policy we have ever had. we can barely get the economy to grow. it was 2.4% last year, then 1.8%, if that, maybe even less this year. despite all the stimulus. so the economy is continuing slow, it is not even staying flat. >> so you are saying we are in for several quarters of low growth? >> we hope...
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Nov 17, 2012
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he explained why it's in our collective interest to get the deficit settled so we can do other things. the meetings show that the president last year had a very inside the white house strategy. he and john boehner sat down and the president had a beer and john boehner had his red wine and they got nowhere. the president is going to be much more visible this time. he is going to build a campaign for his position. we have already seen some people move from the obama presidential campaign to organizations that are standing behind him to raising taxes on the rich. this will be a much more public negotiation, or at least this part of it, and meeting with this people provides great theater for that public. >> didn't nancy pelosi say today they would have milestones along the way and that there might be miniature goals as we get to the end? >> yes. >> how do you see that playing out? >> well, i think that this, again -- gwen: is this part of the public? >> this is a sign they have to get this done. there is nobody right now on either side of the aisle who wants to see this happen. i think wh
he explained why it's in our collective interest to get the deficit settled so we can do other things. the meetings show that the president last year had a very inside the white house strategy. he and john boehner sat down and the president had a beer and john boehner had his red wine and they got nowhere. the president is going to be much more visible this time. he is going to build a campaign for his position. we have already seen some people move from the obama presidential campaign to...
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Sep 16, 2011
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social security has nothing to do with our current deficit problem. social security has been a cash-plus in our bookkeeping. but the key thing in-- and the president's absolutely right-- the only way we are going to be able to get our deficit under control is to create more jobs. 9% of americans unemployed, you're not going to have the revenues in government, those who pay taxes, and you're going to have a greater demand on public services. so job creation has to be critically important to getting our deficit under control. quite frankly, his proposals of rebuilding our nation, of helping small businesses, of targeting relief to those who have been unemployed for a long period of time will help all of us bring our budget into balance. as far as the entitlement programs, mandatory spend, yes, we think we can get savings in that area. we want to see a balanced approach to dealing with our nation's deficits. >> brown: savings meaning thingsing like raising the retirement benefit age, for example? >> i personally believe we can do it without affecting the
social security has nothing to do with our current deficit problem. social security has been a cash-plus in our bookkeeping. but the key thing in-- and the president's absolutely right-- the only way we are going to be able to get our deficit under control is to create more jobs. 9% of americans unemployed, you're not going to have the revenues in government, those who pay taxes, and you're going to have a greater demand on public services. so job creation has to be critically important to...
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Jul 1, 2012
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. >> the congressional budget office says it lowers the deficit. there are pilot programs trying to get an vend life issue with the republicans say -- >> when we come back >>> issue two. romney responds. >> what the court did not do on its last day in session i will do on my first day, if elected president of the united states. and that is, i will act to repeal obamacare. let's make clear that we understand what the court did and did not do. what the court did today was say that obamacare does not violate the constitution. what they did not do was say that obamacare is good law or that it's good policy. obama care was bad policy yesterday, it's bad policy today. obamacare was bad law yesterday, it's bad law today. let me tell you why i say that. obamacare raises taxes on the american people by approximately $500 billion. obamacare cuts medicare, cuts medicare by approximately $500 billion. and even with those cuts, and tax increases, obamacare adds trillions to our deficits and to our national debt and pushes those obligations on the coming generat
. >> the congressional budget office says it lowers the deficit. there are pilot programs trying to get an vend life issue with the republicans say -- >> when we come back >>> issue two. romney responds. >> what the court did not do on its last day in session i will do on my first day, if elected president of the united states. and that is, i will act to repeal obamacare. let's make clear that we understand what the court did and did not do. what the court did today...
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Nov 12, 2010
11/10
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martin fed sign and david walker on preliminary proposals for reducing the federal deficit. >> one of the most exciting and to me positive things about this plan is that they spend a lot of attention on the so-called tax expenditures, the spending that is built into the tax code, and they indicate just how much potential there is for deficit reduction in reforming those tax expenditures. >> rose: in the final analysis the president of the united states has to look at all different options around the table and decide what he is going to embrace in his 2012 budget and part of his legislative agenda he has to lead and the republicans and democrats in congress have to work with him, because we can't afford to wait another two years to start addressing this problem. >> rose: we continue with one of the great reporters of our time, dexter filkins of the new york times. >> we are saying yeah we are going to pound the taliban as we are doing now, we are going to bleed the taliban, we are going to diminish them as much as we can and force them to the table. but at the very same time, the white
martin fed sign and david walker on preliminary proposals for reducing the federal deficit. >> one of the most exciting and to me positive things about this plan is that they spend a lot of attention on the so-called tax expenditures, the spending that is built into the tax code, and they indicate just how much potential there is for deficit reduction in reforming those tax expenditures. >> rose: in the final analysis the president of the united states has to look at all different...
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Nov 4, 2010
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this year, the deficit is set to reach an astronomical 32%. france says china has signed a number of multibillion-dollar trade deals during the visit of the chinese president. they include the purchase of airbus aircraft and deals on nuclear power. in the u.s., california police have found a half kilometer tunnel under the mexican border that uses a railway system for smuggling drugs. border agents also found more than 20 pounds of marijuana. equipped with ventilation and lighting, the tunnel connects warehouses in the u.s. and tijuana, south of the border. this is "world news today." coming up, history is being made in germany with the ordination of the first female rabbi since world war ii. stay with us. the serbian president has apologized for the massacre of croat civilians by serb forces during the war of the 1990's. he made the apology during a visit to vokovar. more than 200 croats were murdered in a pig farm near the town in 1991. he and his croatian counterpart laid wreaths at the site of the massacre and another town where 23 were ki
this year, the deficit is set to reach an astronomical 32%. france says china has signed a number of multibillion-dollar trade deals during the visit of the chinese president. they include the purchase of airbus aircraft and deals on nuclear power. in the u.s., california police have found a half kilometer tunnel under the mexican border that uses a railway system for smuggling drugs. border agents also found more than 20 pounds of marijuana. equipped with ventilation and lighting, the tunnel...
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Oct 15, 2010
10/10
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deficit widened sharply in august, pushed by imports that outweighed exports. washington accuses beijing of keeping its currency artificially low, giving it an unfair advantage. japanese prime minister naoto kan has told parliament station release from jail the human rights activist who won the nobel peace prize. his remarks may raise tensions between asia's to biggest economies as a territorial dispute guys down. on november 2, the united states goes to the polls to elect all members of the house of representatives, a third of the senate, and many governors. it will be a crucial test. his increasing unpopularity is expected to mean heavy losses for the democrats. we have traveled to nevada to gauge the political move. reports from the state with the highest unemployment rate. >> on the road you can see the sprawling desert that makes nv of the driest place in the u.s.. it's a distinction is having the worst economy in america, the highest unemployment. we know what made it rich with gambling is on the losing streak. i came here to see how people feel about the
deficit widened sharply in august, pushed by imports that outweighed exports. washington accuses beijing of keeping its currency artificially low, giving it an unfair advantage. japanese prime minister naoto kan has told parliament station release from jail the human rights activist who won the nobel peace prize. his remarks may raise tensions between asia's to biggest economies as a territorial dispute guys down. on november 2, the united states goes to the polls to elect all members of the...